Dudley BS launches skilled worker visa range

Dudley Building Society has launched a skilled worker visa lending proposition, supported by a refreshed range of mortgage products for borrowers working in the UK on a skilled worker visa.

Dudley will consider skilled worker visa applicants who have a minimum of 12 months residency in the UK and minimum 12 months remaining on the visa.

Applicants must have a minimum income of £30,000 and can be from any country of origin with a broad range of professions considered.

Dudley will lend up to 90% LTV, with gifted deposits accepted up to 50% of the deposit and joint borrower sole proprietor (JBSP), including non-family members, accepted.

The Society will also consider more complex cases through a personalised assessment.

Alongside the updated criteria, the Society has introduced a new product range for skilled worker applicants.

Two and five-year fixed rates are priced at 5.45% up to 80% LTV and 5.70% up to 90% LTV.

Two-year discounted products are also available, with a discounted rate of 2.69% from Dudley's SVR at 80% LTV and 2.54% at 90% LTV.

All products carry a £999 arrangement fee and follow the Society’s standard early repayment charges. Borrowers can repay up to 10% each year without penalty. All products are available on a capital and interest basis.

Rob Oliver, distribution director at Dudley Building Society, said: “We have seen consistent interest from brokers supporting clients on skilled worker visas. By expanding this proposition to the whole market and refreshing our products, we want to give brokers a clear framework to work within and a straightforward route to place these cases.

"Our manual approach allows each case to be assessed on its own merit. This update ensures brokers can include Dudley Building Society in their considerations when working with skilled worker visa clients.”